Transferring a mortgage

batavia

I am self employed and had my current mortgage with C&G for around 5 years. I wanted to transfer it to a new property [exactly the same mortgage with absolutely no changes - time remaining 3+ years] and have been refused basically because [a] I cannot prove my income as only have bank statements and advice of payments from overseas companies HRMC cannot provide an SA302 as there is no income declared [c] my accountant cannot confirm my income as whilst I declare it to him, because of my tax status he does not have to declare it on the tax return forms complete for me and sent to HRMC. I am not classified as 'non resident' for tax purposes and my domicile is the UK. Any ideas as to how to get round this problem

kingstreet

You can't transfer a mortgage from one property to another. You've simply found that you can't get a new mortgage with your current lender because you no longer meet its lending criteria.

I would expect any solution would come from a broker, rather than by trawling up and down the high street. Ask friends and relatives for a recommendation and pick someone independent or at least whole market.

Let_Us_See

Yes.....simple............start paying tax!

As UK domiciled for both residence and tax you don't actually pay any tax? Why not? No proof of income, no mortgage........simple, really.

mrsmchapman

I think your at a bit if a loss, without proof of income I doubt any mortgage company will honour you a mortgage. Was this also you position when you first applied for a mortgage?

Thrugelmir

I thought overseas earnings were declared along with any tax paid to the HMRC in your annual self assessment form. (Although no further tax may be due on this source of income).

I would advise checking the position as HMRC are ruthless when evasion comes to light.